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It took just two days (today and last Friday) to wipe clean 11 days of bullish “progress.” Indeed, today on a big television monitor there was some wildlife footage of some bear cubs playing, and I naturally was completely charmed by what I saw. I mused about the difference between real life bears and bulls. The bears are playful, intelligent, good-looking, and delightful to watch. Bulls, on the other hand, are huge, ogre-like creatures that push out – – what else? – – bullshit. I’m glad to be a bear.
In any case, I’m calling it a day, but I notice (with some nervousness) that the ES is banging right against the level I considered to be support. If we’re going to make any more progress, especially with the awful 2-day FOMC meeting commencing, we’ve got to break through this level with gusto.
This is mildly interesting; I was listening to a Jerry Lewis interview from the late 1960s, and one of those “stocks that got away” stories came up. Here’s the clip, and if you scroll to the 8:27 mark, you can see it immediately: